Reference no: EM132501734
In what follows use any of the following tests/procedures: Regression, multiple regression, confidence intervals, one sided T-test or two sided T-test. All the procedures should be done with 5% P-value or 95% confidence interval.Some answers are approximated, choose the most appropriate answer. Open Wages data. SETUP: Is it true that more educated people have higher wages? Given the data your job is to confirm or disprove this assertion.
I. What test/procedure did you perform?
- a. One sided T-test
- b. Two sided T-test
- c. Regression
- d. Confidence intervalII. Statistical interpretation?
- a. Since P-value is small we are confident that the slope is not zero.
- b. Since P-value is small we are confident that the averages are different.
- c. Since P-value is too large the test is inconclusive.
- d. None of these.III. Conclusion?
- a. Yes, we can confirm the assertion.
- b. No, we cannot confirm the assertion. Task 1